Ably, a platform that synchronize data in real time, has raised $70 million in a Series B funding round which was co-led by Insight Partners and Dawn Capital. The funding is coming after a $7 million Series A in April 2020 which helped them reach 50 million devices per month and with the new funding now – coming in handy – they already count more than 250 million devices per month. Existing investors Triple Point, Digital Horizon, Forward Partners and MMC also saw participation. The Series B is bringing the total amount raised to date to $78.3 million
Founded in 2016 by Matthew O’Riordan and Paddy Byers, Ably provides a suite of APIs to build, extend, and deliver powerful digital experiences in real time, counting more than 500 customers across 80 countries. Organizations like Bloomberg, HubSpot, Verizon, and Hopin depend on Ably’s platform to offload the growing complexity of business-critical real time data synchronization at global scale.
“Ably is one of the key technologies that underpin our business. Its real-time platform and infrastructure layer seamlessly supports HubSpot’s entire real-time needs, helping us to meet our technical, business, and product development requirements. With Ably we have innovated and taken new products to market much faster while significantly reducing our operational engineering overhead.” comments HubSpot’s product group lead Max Freiert.
With 30% of all global data projected to be real-time related by 2025, companies around the globe are facing the massive challenge of bringing their systems up to speed, from receiving realtime financial information, or monitoring live car performance data, often at tremendous cost and effort. That’s exactly what Ably is trying to do, and do it in style with this new funding. The company also expects to reach 1 billion devices by 2025, a viable goal given the tremendous growth Ably saw the past years
Source: Ably “From A to (series) B”